**Beacon Roofing Supply Confirms Receipt and Rejection of Unsolicited Proposal from QXO**

Herndon, Virginia–(BUSINESS WIRE)– Beacon (Nasdaq: BECN) confirmed in a recent statement that it has received and turned down an unsolicited proposition from QXO, Inc. (Nasdaq: QXO) to purchase all outstanding shares of the company for $124.25 in cash per share. This proposal, which was made public on November 11, 2024, has been carefully evaluated by Beacon’s Board of Directors. After thorough consideration, the Board unanimously rejected the proposal as it significantly undervalues Beacon and its future growth potential.

Beacon’s Board, in consultation with independent financial and legal advisors, concluded that the offer from QXO did not align with the best interests of Beacon and its shareholders. Despite Beacon’s efforts to engage in discussions with QXO to demonstrate value, QXO repeatedly declined such engagement opportunities. Beacon extended multiple invitations for discussions, offered to share confidential information to support QXO’s valuation, and even proposed to present long-term targets at an upcoming Investor Day on March 13, 2025, all of which were declined by QXO.

Stuart Randle, Beacon’s Chair of the Board, stated, “Our Board unanimously determined that QXO’s proposal significantly undervalues Beacon and fails to reflect the Company’s growth strategy and potential.” Julian Francis, Beacon’s President and CEO, expressed enthusiasm about the company’s growth prospects and emphasized Beacon’s operational excellence and value creation.

Despite Beacon’s attempts to engage constructively with QXO, the initial proposal remained unchanged, leading to the Board’s decision to reject it. J.P. Morgan is acting as the financial advisor, while Sidley Austin LLP and Simpson Thacher and Bartlett LLP are serving as legal advisors to Beacon throughout this process.

Beacon, a publicly-traded Fortune 500 company established in 1928, focuses on distributing specialty building products, including roofing materials and complementary products. The company operates across all 50 states in the U.S. and 7 provinces in Canada, serving a vast customer base of nearly 100,000 clients.

Investors are encouraged not to take any action at this time regarding the proposal. Beacon plans to continue maximizing shareholder value and remains committed to the best interests of its shareholders. The company looks forward to sharing further details about its strategic direction at the upcoming Investor Day.

**Important Forward-Looking Statements**
This article contains forward-looking statements associated with Beacon Roofing Supply, reflecting current estimates, projections, and expectations. These statements are subject to uncertainties and risks that could impact actual results. Investors should exercise caution when considering forward-looking statements due to the inherent uncertainties involved.

Investors and shareholders are advised to await further communication from Beacon Roofing Supply as the company navigates this proposal and any potential developments in the future.

**Important Additional Information**
Beacon intends to provide further updates in connection with the company’s 2025 annual meeting of stockholders. Shareholders are urged to review all relevant filings and disclosures related to this matter.

**Media Contact:**
Jennifer Lewis
VP, Communications and Corporate Social Responsibility
[email protected]
571-752-1048

**Investor Contact:**
Binit Sanghvi
VP, Capital Markets and Treasurer
[email protected]
972-369-8005

**Financial Advisory:**
Bruce Goldfarb / Pat McHugh
Okapi Partners LLC
(888) 785-6673 / (212) 297-0720
[email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Beacon Roofing Supply’s 8K filing here.

About Beacon Roofing Supply

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.